Develia has concluded a final sales agreement for a real estate property covering approximately 5500 square meters on Kolejowa Street in Wroclaw with a subsidiary of AFI Europe. The transaction value amounts to PLN 50.5 million.
According to Devalia, the sale of the Wroclaw land property advances the company’s strategic objective of concluding the divestment of its commercial real estate portfolio.
“As planned with the buyer in August this year, we have finalized the sale of this investment property land on Kolejowa Street in Wroclaw,” said Decalia CEO Andrzej Oslizlo, CEO of Develia. This is a prime plot in the city center with a building permit for commercial development, and we are pleased that it has been acquired by an experienced investor. As for us, in line with our business priorities, we will reinvest the obtained funds in further expansion in the residential sector and gradually, diversifying our operations, also in the student housing segment. Closing this sale on favorable terms marks a significant achievement for us at the end of the year, as it brings us closer to fulfilling our objective of divesting our commercial real estate portfolio – one of our strategic goals for 2024-2028 –
“This acquisition confirms AFI Europe’s position as one of the most active investors in the region’s real estate market,” said AFI Europe Poland CEO Sebastian Kiec. “Over the past two years, we have built one of Poland’s largest PRS portfolios – AFI Home now includes 1.7 thousand ready-to-lease units. Since autumn, our first project of this type has been operating in Wrocław. The capital of Lower Silesia and the third largest city in Poland in terms of the number of inhabitants is a natural place for our growth. We will present our plans for developing the Kolejowa Street site in the coming months.”
